Thursday, May 28, 2020

7A- Testing the Hypothesis, Part 1

The opportunity that I would like to focus on is finding a way to get cheap and easy access to online newspapers (New York Times, Wall Street Journal, etc.) without having to subscribe to all of them at different times.
The who: adults ages 30 to 55
Who test: The age range I have provided is my guess of who is wanting to find news from these types of newspapers the most. While I don't think everyone in this age range necessarily would read these newspapers, I feel more would read it if they could access them more easily. However, I believe that college-aged students could also utilize this opportunity. Sometimes, these students need these newspapers as sources or as mandatory readings.   
The what: it isn't easy to find news from reputable newspaper sources
What test: I believe that the need to find a place to find information is higher than ever in the current political climate. Much false information is being spread; people want to be able to go to different places.
The why: currently, these reputable online newspapers require individuals to subscribe for a monthly or yearly plan to read the articles   
Why test: The newspapers that require subscriptions deter people from gaining insight into an issue or situation. No one wants to subscribe to five different publications to have the ability to read one story every few months.

Interviews:
1. 35-year-old bank teller
This individual currently doesn't keep up with the news too often. She has given up trying to find information because she believes a lot of free sources are biased about what they report. While she would love to be more knowledgeable about the current climate, she has been discouraged from finding sources that provide accurate information. She would also like the idea of cross-referencing information.
2. 47-year-old program manager
This individual keeps up with the news. He loves to read newspaper articles; he currently isn't subscribed to any online newspapers. He used to have a subscription to a local newspaper, but it was a physical paper. He ended that subscription because he began to find the news online. He thinks it is vital to keep up with the story; he stays informed by finding articles from free online sources or watching the news. 
3. 53-year-old construction worker
While he keeps up with the news, he is not typically heavily invested. However, because of the current pandemic and political situation, he has started paying attention more than he previously did. He reads the news when there is a topic or location that interests him. He currently gets his story from the local newspaper or news station. 
4. 34-year-old manager 
This student is hugely invested in the news. Many of today's politics and administrational decisions have a direct effect on her and her family, so she likes to stay informed. She gets her news mostly by watching independent news videos, and she currently has a subscription to the Harvard Business Review and the New York Times. 
5. 54-year-old accountant 
This individual also likes to keep up the news. He has had subscriptions to online newspapers in the past but thought it was too much of a hassle, so he canceled them. He would only read a few articles from the newspapers, so a monthly fee was just not justified. He currently watches different news stations. However, he has been debating on subscribing to maybe only one online news source rather than several

The interviews confirmed a suspicion that I already had; people want to keep up with the news. Many are overwhelmed with the number of sources where you can get information. They don't know where they find information on a situation that is reputable and heavily researched. They hear that the media is biased and that all news sources have an agenda, so having your knowledge come from different sources is essential. Places like Harvard Business Review pride themselves on their factual reporting and legitimate sources but require a subscription. So if individuals should have many news sources but all the "honest" and "reputable" sources require a subscription, there is a problem.  
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6A- Identifying Opportunities in Economic & Regulatory Trends

Regulatory changes: more Americans are eligible for overtime pay  
  • The Department of Labor has updated the Fair Labor Standards Act, this update may cause an estimated 1.3 million workers to be entitled to overtime pay, or salaries will increase. I think there is an opportunity here because many businesses will be affected by this law. Companies employing these 1.3 million workers will have to find and ensure that their overtime is paid, or their salary is increased. Not only will this law affect the current employees, but businesses must ensure that they change their payment methods for future employees. I believe that the prototypical customer is going to be a small business. I think that this opportunity would be relatively easy to exploit, find the company that needs help with their funding methods and set up a future payment method.
  • I saw this opportunity because my friend owns a boutique in my hometown. The update to this act would have affected her and her current employees. I know she would have to adjust relatively quickly.    

Regulatory changes: Medicare providers can’t include ‘gag clauses’ in pharmacy contracts.
  • The Know the Lowest Act allows pharmacies to notify customers about lower prices for their prescriptions without insurance. Before the act was implemented, insurance companies would place a clause in the contract that stated that pharmacies were not allowed to offer lower prices. If people believe that they can find drugs for lower prices without insurance, it might cause some people not to get insurance. Not having people getting coverage causes these companies to lose money. The opportunity lies with the fact that the insurance providers have to reposition themselves. The prototypical customer would be insurance companies. I don’t think this opportunity is necessarily easy to exploit. It depends on how and if this act will affect insurance agencies. It could hurt their income, or it couldn’t.
  • This caught my attention because, in January, I had to go to the ER for a cornea abrasion. The hospital prescribed me medicine that I had to purchase at a pharmacy. Even with insurance, the cost of the dose was insane. If I could have found it for a lower price, I would have.  

Economic trends: “U.S. Home-Price Growth Accelerated in March.”
  • Even though home sales have dropped, especially during the pandemic, the actual housing prices are staying stable. Because of the epidemic, fewer people have wanted to buy, and most sellers have pulled their houses off the market. I believe that once the pandemic is over, old sellers will put their homes back on the market to sell. Due to the surface of sellers and maybe even buyers, there is an opportunity to help these extra individuals sell their homes. The prototypical customer would be a person selling their home after the pandemic. I think this opportunity is easy to exploit because there will be a need for realtors after the pandemic. People will feel confident to sell again due to the high prices and returns.
  • I think I saw this opportunity because my parents are currently considering selling our home but have put it on hold because of the pandemic. I know they are hoping that they will be able to find a realtor after the pandemic passes.

Economic trends: “Summer Jobs Dry up and Teens Face Highest Unemployment in Decades.”
  • Because of the pandemic, many teenagers have had a hard time finding a job. Even when the epidemic begins to lighten the teenagers will face much competition for their jobs because the heightened amount of unemployment in the U.S. I think there is an opportunity here to either find a new source income for these teenagers or a new program that makes it easier for teenagers to connect to potential job offerings. There is an unmet need here, the capability to find a job before others do, and a source of income. The prototypical customer will most likely be high school students and college students. I think this opportunity will be easy to exploit. People are desperate for a form of income or an easy way to find a stable job. If there any method or program that would make that process more accessible, they would use it.
  • I saw this opportunity because I was supposed to have an internship this summer but could not go because of the pandemic. I have been looking for a summer job but have not been able to find one. Many of my friends are in the same situation I am. It is incredibly frustrating not to be able to provide for yourself.  
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5A- Identifying Local Opportunities

  1. "New Order Coming for Courts amid COVID-19 slowdown" by Cindy Swirko

Description: This article discusses the issues court has because of COVID-19. Because of the pandemic, a lot of court activity has slowed down or halted altogether. For example, trails for current prisoners like Anna Young have been pushed back. Young was allegedly the head of a cult, the House of Prayer. She stands accused of abusing and starving Emon Harper until it killed him. Young's hearings are currently at a standstill or canceled because of the virus. Lawyers have not been able to interview certain witnesses, and out-of-state travel has been limited. Attorneys have been limited in their capabilities to build a case for both the defendants and their other clients. However, it is expected that by May 29, 2020, new guidelines will be signed to allow court activity to begin again.
The problem: the problem that is occurring, is that courts are exceptionally behind as of right now. Trails that were meant to be held have been canceled and now have to be rescheduled. Attorneys have not been able to contact the necessary individuals for their cases and will have to scramble to ensure that they are ready for their upcoming trails. On top of the old cases that need to be resolved, new cases are surely coming in as well.  
Who had the problem: attorneys, the courts, and prisoners. They must all deal with the backup of the courts.  

     2. "Forecasters Predict busy 2020 Atlantic Hurricane season" by Freida Frisaro/The Associated Press

Description: Astrologists believe we will have another extreme hurricane season this year. They foresee that there could be up to 13 to 19 known storms building up in the Atlantic. Of those storms, around 6 to 10 have the potential to become a hurricane. These hurricanes could have winds that reach up to 74 miles per hour or more. Forecasters predict that the hurricanes 3 to 6 may be big enough to cause an extraordinary amount of damage. The article states that while it is hard to predict whether these storms will become hurricanes or these hurricanes will be devastating, it is pivotal for residents in affected areas to begin preparing for such events.
The problem: while hurricane season isn't upon us just yet, the problem is that people must start getting prepared in advance.
Who has the problem: the residents and the state government. They must all take the necessary precautions before the hurricane season.    
    
     3. "Betsy DeVos Releases new Title IX Regulations for College Campuses" by Tien Le

Description: New regulations have been added to Title IX. One of the most significant changes that new law has brought was how sexual harassment was defined. Before the new rules, sexual harassment was thought to be any "unwelcome conduct of a sexual nature." (Tien, 2020) However, the new definition of sexual harassment is as follows: "conduct that is so severe, pervasive, and objectively offensive that it effectively denies a person equal access to education." (Tien, 2020) The university will be allowed to conduct its investigations into the claims if they do not fall under this specific phrasing. The regulations also replaced the current model of inquiry into a "court-room style hearing." Now the defendant and plaintiff will have the ability to have someone represent them in court. It is important to note that this representation does not have to be a lawyer. 
The problem: with these changes comes a learning curve for the university, how to implement these changes effectively and make these hearings fair. In addition, as Sophia Serrao, a current law student, mentioned in the article, these regulations may confuse the procedure even more than before, therefore demoralizing the students from coming forward with allegations in the first place. Not only will it confuse the process, but it will also affect low-income students because they will not be able to afford an attorney.
Who has the problem: students, faculty, and universities. 

    4. "Fuchs: UF to Reopen in Fall" by Nicole Rodriguez

Description: Kent Fuchs has announced that the University of Florida will be open for the fall semester. There will be a task force set up to ensure that the students and faculty are safe up returning to the campus.
The problem: ensuring that the "comprehensive practices" consider all precautions as COVID-19 continues to develop in the following moths
Who has the problem: the administration which has to implement the plans  

    5. "Landlords Lining up to Evict Hundreds of Tampa Bay Tenants once Moratorium Expires" by Emily L. Mahoney and Christopher O'Donnell

Description: The order issued by the governor was meant to protect residents from losing their housing during the pandemic. However, this executive order has not stopped landlords from sending eviction notices or charging late fees to tenants that have missed payments. While federal acts like the CARES act don't allow evictions on properties that get "government subsidies", this act does not cover all features, leaving many tenants still vulnerable. Even with the bill as a rebuttal against their eviction, many cannot afford to go to court to dispute the eviction. Many have lost their jobs and therefore have no income.
The problem: after the executive order ends June 2, many residents in Florida will be susceptible to eviction.
Who has the problem: renters, unemployed individuals   
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Thursday, May 21, 2020

4A-Forming An Opportunity Belief


Beginning Point:
There is an opportunity to find free and accessible parking. How many times have you or your family traveled to a large city or gone to an event and searched for a parking spot close to where you need to be and doesn’t cost much? You’ve looked for hours to park your car and still can’t find a spot. Frustrated, you park your vehicle wherever there is space, but then you come back, and you have a ticket. There should be an app to tell drivers about all available parking spots and at what times these spots usually fill up. The individuals I think would have this unmet need are college students or people who live in large cities. However, for right now, we will focus on college students residing in Gainesville. This need has come from the lack of parking during certain hours on and around campus. Currently, students are either parking illegally or park in garages and paying a fee. I am about 60% sure that an opportunity exists.

Prototypical customer 1: a college student that lives on campus (Ex: Beaty Towers)
1. If you have had an issue with finding parking in Gainesville, when did you notice?
I started noticing that parking was difficult to find parking within the first month of Freshman year.  
2. How many days, on average, do you look for parking on and off-campus?
I believe that I typically look for parking at least three times a week. There are certain times when parking on campus is worse, even with a decal. Usually, after 5, parking by the dorms gets packed. The parking situation is the worst when events are being held on campus because you have to fight other students and visitors. I don’t go off campus too much for me to talk about parking outside the university.  
3. Has the parking situation caused you to avoid certain activities?
Yes and no. I try to be back before specific times. Parking gets pretty bad in the afternoon and at night, so I try to avoid leaving during those times. 
4. How you currently finding parking on and off-campus? On average how long does it take
Now, I drive around until there is parking. Sometimes I find parking quickly and sometimes it’s a while. I’ve had times where I have looked for an hour and had to park far away from my dorm. 
5. Would an app indicating where open parking spots help, and would you use it? 
I think an app would help, but I think I would have to be really frustrated to download it.

Reflection: The student has had trouble with parking but not enough for them to download an app. I was correct; there was a problem, but maybe not big enough for it to be an opportunity. 

Prototypical customer 2: a student that leaves near campus (Ex: The Standard)
1. If you have had an issue with finding parking in Gainesville, when did you notice?
Freshman year
2. How many days, on average, do you look for parking on and off-campus?
Maybe two days a week. My apartment has a garage that I park in, and I usually walk to campus 
3. Has the parking situation caused you to avoid certain activities?
Only on days when there is an event on campus, driving and parking become annoying then. 
4. How you currently finding parking on and off-campus? On average, how long does it take?
If I need to find parking, I drive around until I see one. Maybe 30 minutes at most 
5. Would an app indicating where open parking spots help, and would you use it?
I would personally not download the app because I haven’t really had any issues finding parking.

Reflection: Since this person’s apartment complex has a garage, they already have a spot available. Plus, they live close to campus. It is good to realize that some apartment complexes offer parking spots to the residents, but those close to campus typically have to pay a monthly fee. 

Prototypical customer 3: a student that lives off Archer (Ex: The Enclave)
1. If you have had an issue with finding parking in Gainesville, when did you notice?
I probably noticed my freshman year 
2. How many days, on average, do you look for parking on and off-campus?
I have to drive campus every day, so I have to look for parking almost daily. I have to go to my sorority, so around dinner time is the worst time to find parking. Also, with living so far off campus, it is frustrating that I can’t drive to campus during the day.  
3. Has the parking situation caused you to avoid certain activities?
I haven’t necessarily avoided activities, but I make sure to leave earlier to ensure that I have time to find parking.
4. How you currently finding parking on and off-campus? On average, how long does it take?
Now, I find parking by finding the spots that are usually open, and if that doesn’t work out, I drive around until I see one. The longest it has taken me to find parking is about 45 minutes. 
 5. Would an app indicating where open parking spots help, and would you use it?
 I would use it; it could help cut my time searching for a place in half and cause me less stress.

Reflection: it seems that parking is pretty bad for students that live far from campus, and the opportunity for the app is more significant with these students.  

Summary: 
I still think that there is a problem with finding parking. However, I don’t think the problem is strong enough to motivate students to download and use the program. Not being able to find parking can be annoying and frustrating for the students, but there is not enough pain and suffering for a person to actually use the app. Of the students interviewed, only one would definitely use the app.  While there is a problem, I don’t think there is an opportunity for the app specifically. In conclusion, I do not feel my opportunity is more accurate than I started. 
I believe it is vital for entrepreneurs to adapt their products to their customers. If the customers don’t like the idea of your product or find an entrepreneur that listens to them, they won’t buy your product. Without customers, you have no income.  








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Wednesday, May 20, 2020

3A- My Entrepreneurship Story

This picture was taken after my group, and I placed in the top 7 with our DECA business case analysis in the state competition in 2017. 


A time in my life when I have been exposed to entrepreneurship was my sophomore year of high school. I was in a marketing pathway. For one of the classes, we had a local entrepreneur come in and talk to us about how he became successful. This particular entrepreneur broke every stereotype that I thought made an entrepreneur successful. As a sophomore, I always thought it took a specific type of person to be an entrepreneur. To be an entrepreneur could only be outgoing, dominant, outspoken,  and confident. The entrepreneur that came to my class was more soft-spoken, humble, unsatisfied, and had quiet confidence in him. The entrepreneurs, for a long time, was dissatisfied with where he was with his business. While he was successful because he saw an unmet need and an opportunity, he had continued success because he always strived for improvement due that unsatisfied feelings. While this continued improvement caused him to hit dead-ends and caused him to fail sometimes, he never quit. He found he was most successful with his progressions when he listened to his customers and make changes for their needs and their wants. Sometimes entrepreneurs get so attached to their product as it is, they have a hard time taking criticism. But if you don’t have customers, you don’t have a business. This experience taught me that entrepreneurs come in all shapes and sizes. No one trait makes an entrepreneur different from others.

 I decided that I wanted to enroll in ENT3003 because what makes an entrepreneur successful always interested me. There are so many theories, ideas, and definitions about entrepreneurship, that what it takes to become successful and innovative becomes lost. After ENT3003, I hope to start looking at the world with a renewed entrepreneurial spirit. 

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30A – Final Reflection

Here is a picture of my foster and I. Fostering is one of the reasons for my involvement in Project Canis 1.  Overall, this journey has been...